Financial Conversations with Fitz #73 - What a Week of Hosting Visitors - Double Rewards - 07/19/2010
Corn and beans are growing. 1364 degree days. About the same as last year. Over a third there…..Picked up some new sweet corn this weekend. Great weekend of celebrations around North Iowa. Lots of parades and special feeds. Dow should open up with some strength after Fridays big downturn….Earnings!!!!! Grain, what a ride it has been….Don’t let these increases go without some action. Lots of corn out there…..Storm clouds on the horizon with ethanol action by the legislators. Could have a negative impact on corn prices…….Corn will probably open lower this morning with the improved weather forecasts.
Had a fun week of hosting lots of visitors in TSB land…..Started out on Thursday helping host the Farm Tour for the WIT guests. WE took a bus load of 55 people out to our new farming methods in Winnebago County….OF course stopped at the Coop first to kick off the tour to show the distribution system for our grain. Then we stopped in the middle of a corn field to observe and hear about the wind farm in front of us. Then a great lunch at Wooge’s conservation plat. Then it was off to the POET Ethanol plant. Finished up at Ludwig family Mt. Valley Winery. I so enjoy hosting guests like this week we have over 1200 units at our WIT Rally. People from all over the United States and Canada. Celebrations this weekend at Clear Lake, Grafton, Titonka, and Forest City to mention a few. You know we are reminded of hospitality in the scriptures especially this weekend with Abraham and Martha/Mary in our local churches…..also if you are a volunteer in any of our communities. There is also quite an economic impact to being good hosts. Algona has their days also with the bike rally. Clear Lake served $20,000 worth of chicken, Forest City serves over $6000 of the same. Not to count the many other church and service clubs activities. These projects help fund these groups activities for the year in some cases. The state of Iowa takes in over $6.1 billion in tourism. In the process there are over 66 thousand jobs provided. A good example of the multiples is the CIVIC center in Des Moines. They sold over $11 million of tickets this year. That has a multiple of 3 for a total of $35 million to the area. This week we have over 1200 units registered for WIT. They are usually in town for over a week before and some after. They are quite visible in our churches and retail establishments around town and the area. You try to figure what you spend per day when you are traveling. You can multiply that by 4000 just for Forest City this week. Next week we have about 15,000 people biking across IOWA in RAGBRAI. They will be spending lots of money as they go by. So next time your town or organization asks for volunteers you have two reason to say YES…..You get to meet some great people and they are definitely helping out your community.
So join us at TSB in volunteering and greeting to meet our guests in North Iowa.
Where to go for help …..Local banker
Remember that you should deal with people in community banks and organizations that when they put something together for you that they will be sitting with them at ball games, church or community events. So, if in doubt give us a call.